Corona virus: Finance Minister gives relief to businessmen and taxpayers

Corona Virus, Corona Virus in India, financial relief measures, Finance Minister gives relief to businessmen and taxpayers, Nirmala Sitharaman announces financial measures to protect companies businesses and taxpayers,

The Government of India has taken some financial relief measures to protect companies, businesses and taxpayers from the situation arising out of the lockdown imposed to reduce the risk of corona virus.

 These include extending the date of filing income tax returns and GST and ending the charge on withdrawing money from ATMs.

 Finance Minister Nirmala Sitharaman has extended the date of filing income tax returns for the financial year 2018-19 till June 30.  The interest rate for delayed payments has been reduced from 12 to nine percent for this period.  Late deposit of TDS will now attract nine percent interest instead of 18 percent.

 Apart from this, the date of filling GST for March, April and May 2020 has also been extended till June 30.  Companies whose turnover is less than five crore, they will not have to pay any interest, late fees or penalty.

 There will be no penalty in the first 15 days for delaying companies with more than five crore turnover.  Even after this, you will not have to pay penalty or late fees, they will have to pay interest at the reduced rate of nine percent.
In order to file GST on the last date, the server will not be loaded on the other things, for this, different regions will be told the dates.

 Under the Sabka Biswas scheme, the date of settlement of disputes was increased from 31 March to 30 June 2020.  Under this, interest will not be taken from companies with less than 1.5 crore turnover.

 The Finance Minister said, "We do not want the lockdown to cause importers and exporters to suffer, so the custom clearance will continue day and night."

 The last date for linking Aadhaar with PAN was also extended to 30 June 2020.

 Now the charge on withdrawing money from ATMs by banks has been removed and the condition of maintaining minimum balance in the accounts has also been removed.

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